Dubai's Emaar enthusiastic about India, need to ramp up systems to match interest in investments: Piyush Goyal
Dubai [UAE], October 2 (ANI): Union Commerce and Industry Minister Piyush Goyal on Saturday said that he had a meeting with officials of Emaar, a UAE-based multinational real estate development company, and said enthusiasm to invest in India was phenomenal and beyond his expectation.
The minister also said that had meetings with logistics companies and there was a need to ramp up the government machinery to match interest in investments to fructify.
"I had a bilateral with Emaar and the enthusiasm is phenomenal and beyond my imagination or expectation. I had meetings with logistics companies and I think we will not be able to match up with the speed at which they want to invest in India," Goyal said at a press briefing in Dubai.
"So, I will have to drum up my whole system in India - the business persons and the government machinery - to match the speed with which they come up with ideas for investing in India," he added.
Emaar Properties is Dubai's biggest developer.
The minister, who earlier in the day co-chaired a meeting of UAE-India High-Level Joint Task Force, said investors in UAE had conveyed that they do not have to worry about extraneous considerations while doing business in India.
"I am gratified to see the confidence that the UAE government and investors have in the political leadership in India, the confidence they have in PM Modi's approach to problem-solving, approach to promoting country and approach systemic resolution and policy-driven resolution of issues that come up in a very transparent and honest manner," he said.
"Two-three big investors whom I met deeply appreciated the fact that now doing business in India is clean and honest. They said that now they don't have to worry about extraneous considerations. That is the biggest attraction, they said. One company said I want to invest in 25 locations in India to set up operations. I asked how do you find it when you are working in India he said that the best part of working it is absolutely clean," the minister stated.
He said the investor told him that he has set up a big project in Lucknow and "had no problem at all, seamless implementation".
The ninth meeting of the UAE-India High-Level Joint Task Force on Investments on Saturday discussed ongoing efforts to amend the longstanding Bilateral Investment Treaty and noted the importance of concluding the negotiation process as soon as possible.
The meeting was co-chaired by Sheikh Hamed bin Zayed Al Nahyan, Member of the Executive Council of the Emirate of Abu Dhabi.
Senior officials representing government authorities and various investment entities from both countries took part in the meeting.
Piyush Goyal on Friday inaugurated the Indian Pavilion at Dubai Expo 2020. (ANI)
